Traders observed an altcoins rally taking shape amidst the bullish crypto market, as most tokens broke ahead of their respective resistance levels.
The crypto price action of the last 24 hours took an upward move, with Bitcoin crossing $38,000 with firm support. If it consolidates above the level, it could easily exceed $40,000, as many experts have been predicting. Moreover, November witnessed a bullish crypto market, as most tokens posted positive monthly returns. The crypto price action of the next couple of days could now be crucial to predict the short-term targets for tokens.
As traders and investors gear up for a potential crypto ETF approval in January 2024, the markets could go up higher in anticipation. The Securities and Exchange Commission, the US regulator, has asked for further input on the ETFs from a leading investment firm. It could clearly indicate the regulator’s current monitoring of the applications of the exchange-traded funds.
Noted investor and entrepreneur Robert Kiyosaki has recently created a buzz in crypto circles with one of his posts on social media. Kiyosaki, like earlier, has advised others to invest in Bitcoin, among other investment products. With Kiyosaki’s scale of prominence, such public support for BTC is a step for deeper crypto adoption and support worldwide.
BTC/USD 1D price chart
Bitcoin is currently trading at around $38,100 on November 29, 2023, with BTC/USD trading higher by a margin of 3.2% in the last 24 hours. Bitcoin’s market cap is trading at around $747 billion.
BTC/USD is trading higher than its 20-day EMA (36,597.62), as BTC’s 24-hour volume was at around $23 billion. The crypto market cap increased by around 2.90%, trading above $1.44 trillion. BTC’s year-to-date returns are above 130.88%.
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